Fed’s George Says Continuing With Rate Rises Is ‘Necessary’

ANNANDALE-ON-HUDSON, N.Y.—Federal Reserve Bank of Kansas City President Esther George said on Tuesday the U.S. central bank needs to press forward with rate rises, adding it should also begin reducing its massive balance sheet later in the year.

With a short-term interest rate target that is “far” from where it will ultimately need to be, “continuing along the path of normalization even in the face of uncertainty is necessary to achieving long-run objectives for the economy, including price stability and full employment on...